Elada Nagornaya increased her stake in JSC Khokhlomskaya Rospis to 80%

MONACO, Feb. 15, 2021 /PRNewswire/ -- Entrepreneur acquired another block of shares for developing the enterprise and promoting its products abroad.

Entrepreneur from Nizhny Novgorod, Elada Nagornaya, who is main shareholder in the JSC Khokhlomskaya Rospis (Kholhloma Painting), increased her share in the company up to 80%.

The purpose of increasing her share in the joint-stock company, she explains, is developing Khokhlomskaya Rospis, which is the largest enterprise of folk arts and crafts in Russia, and promoting its products on the international market.

"Despite the complicated economic situation both in the country and at the factory because of the pandemic, I decided to invest additional funds in the enterprise. We have a lot of work ahead: the factory must develop, there must be stable salaries for employees, and we need technological modernization as well as new jobs. One of the main tasks for us now is to increase the export potential of the Khokhlomskaya Rospis, to take the products to foreign markets. Now we are actively negotiating with potential partners in Europe and Asia, and plan to expand production," - said Elada Nagornaya.

In 2015, Elada Nagornaya acquired the control stock (54.6 %) of the enterprise JSC Khokhlomskaya Rospis.

In 2019, she launched a manufactory division based on the enterprise - Lada&Liza Fashion House, where honored artists create fashion accessories, jewelry, handbags, and souvenirs with hand-made Khokhloma paintings.

Elada Nagornaya said that one of the JSC Khokhlomskaya Rospis and Lada&Liza Fashion House areas of work is creative cooperation with famous designers and fashion houses.

"In December 2019, Lada&Liza Fashion House became one of the winners of the annual Matryoshka Fashion Week in Nizhny Novgorod. Now the artists of Khokhlomskaya Rospis are working on a new collection in partnership with the world-famous Russian jewelry house Yaroslavna. We will present this collection in Russia, as well as abroad, for example at the Promenade Della Moda show, which will be held during Milan Fashion Week on September 26-27, 2021," - said Elada Nagornaya.

SOURCE JSC Khokhlomskaya Rospis